Multi Cancer Early Detection Market Analysis With Opportunity Segments For 2024-2033
Multi Cancer Early Detection Global Market Report 2024 : Market Size, Trends, And Global Forecast 2024-2033
The Business Research Company's Multi Cancer Early Detection Global Market Report 2024 – Market Size, Trends, And Global Forecast 2024-2033
LONDON, GREATER LONDON, UK, July 30, 2024 /EINPresswire.com/ -- The multi cancer early detection market1 has experienced robust growth in recent years, expanding from $1.22 billion in 2023 to $1.45 billion in 2024 at a compound annual growth rate (CAGR) of 19%. The growth in the historic period can be attributed to increasing prevalence of cancer, government initiatives and funding, growing awareness about early cancer detection, expansion of healthcare infrastructure, rising adoption of personalized medicine, decreasing costs of genetic testing.
Strong Future Growth Anticipated
The multi cancer early detection market is projected to continue its strong growth, reaching $2.93 billion in 2028 at a compound annual growth rate (CAGR) of 19.2%. The growth in the forecast period can be attributed to expansion of telemedicine and digital health, growing emphasis on preventive healthcare, increasing adoption of precision oncology, advances in biomarker discovery, surge in direct-to-consumer genetic testing.
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Growth Driver Of The Multi Cancer Early Detection Market
A rising shift towards personalized medicine is expected to propel the growth of the multi-cancer early detection market going forward. Personalized medicine is a medical approach that tailors treatment and healthcare decisions to the individual characteristics, needs, and genetic profile of each patient. The increasing demand for personalized medicine stems from its capacity to offer enhanced treatment efficacy, propelled by advancements in genomics, the rising complexity of diseases, and supportive regulatory measures. Personalized medicine enhances the effectiveness of multi-cancer early detection by customizing screening and treatment strategies according to individual genetic and biomarker profiles.
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Major Players And Market Trends
Key players in the multi cancer early detection market include Illumina Inc., Sysmex Inostics GmbH, Exact Sciences Corporation, Natera Inc., Guardant Health, Core Diagnostics, Genecast Biotechnology Co. Ltd.
Major companies operating in the multi-cancer early detection market are developing ctDNA-based liquid biopsy tests to enhance sensitivity, specificity, and early detection rates, thereby improving patient outcomes. A ctDNA-based liquid biopsy test detects circulating tumor DNA in the bloodstream, providing a non-invasive means to monitor tumor dynamics, treatment response, and minimal residual disease or early recurrence.
Segments:
1) By Type: Liquid Biopsy, Gene Panel, Laboratory Developed Tests (LDT), Other Types
2) By Cancer Type: Solid Tumors, Hematological Malignancies
3) By End-User: Hospitals, Diagnostic Laboratories, Other End Users
Geographical Insights: North America Leading The Market
North America was the largest region in the multi cancer early detection market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the multi cancer early detection market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
Multi Cancer Early Detection Market Definition2
Multi-cancer early detection is the detection and diagnosis of various types of cancer at an early stage by analyzing biomarkers and other indicators in bodily fluids or tissues. This approach aims to identify cancerous conditions across multiple organs or tissues before symptoms manifest, enabling timely intervention and improved treatment outcomes.
Multi Cancer Early Detection Global Market3 Report 2024 from The Business Research Company covers the following information:
• Market size data for the forecast period: Historical and Future
• Market analysis by region: Asia-Pacific, China, Western Europe, Eastern Europe, North America, USA, South America, Middle East and Africa.
• Market analysis by countries: Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.
Trends, opportunities, strategies and so much more.
The Multi Cancer Early Detection Global Market Report 2024 by The Business Research Company is the most comprehensive report that provides insights on multi cancer early detection market size, multi cancer early detection market drivers and trends, multi cancer early detection market major players, multi cancer early detection competitors' revenues, multi cancer early detection market positioning, and multi cancer early detection market growth across geographies. The multi cancer early detection market report helps you gain in-depth insights into opportunities and strategies. Companies can leverage the data in the report and tap into segments with the highest growth potential.
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2 https://www.thebusinessresearchcompany.com/report/multi-cancer-early-detection-global-market-report
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